A plan by Fisker Inc. to use Volkswagen's MEB electric-car platform has reportedly stalled. Negotiations between the two companies that were supposed to end this month are now delayed until at least September, the company reported in a financial document filed Friday.
In an investor presentation filed with the Securities and Exchange Commission (SEC)—and first noticed by The Verge—founder Henrik Fisker said Fisker Inc. was unable to sign a "cornerstone agreement" with VW, something Fisker anticipated doing by the end of July.
Negotiations will resume in September after the traditional European summer holiday, Fisker said, adding that his company is also "in conversation with several other potential OEMs and suppliers."
Fisker has reportedly been in talks to use Volkswagen's MEB platform for years. The two companies signed a memorandum of understanding in November 2017, and a "collaboration agreement" in December 2018, according to The Verge.
Fisker unveiled the Ocean electric crossover at the 2020 Consumer Electronics Show (CES), and has said it will reach the market by the end of next year, with full series production in 2022. But the vehicle still doesn't have a battery supplier or, unless Fisker can secure MEB, a platform.
Fisker promises four electric vehicles by 2025
However, Henrik Fisker tweeted Friday that the Ocean is "on the road to delivery in Q4 2022," which seems to indicate a delay.
A recent teaser of upcoming products included a pickup truck, which would require a different platform and set of negotiations.
Fisker Inc. has attracted some noteworthy new talent recently, and is on the cusp of a deal that would take the company public by merging with Spartan Energy Acquisition Corp. as a shortcut to getting listed on the New York Stock Exchange.
The news that talks are stalled with VW comes just one day after Fisker issued a press release saying it had accepted 7,062 reservations for its Ocean crossover—one of the vehicles slated to be built on the MEB platform.
It's unclear where these recent developments the EMotion flagship sedan, which Fisker began accepting orders for in 2017. Fisker previously said the $129,900 EMotion would use solid-state batteries, providing a range of up to 400 miles.